VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $69.94 Million Investment in Sandisk Corporation $SNDK

Key Points

• Virginia Retirement Systems acquired 30,760 Sandisk shares worth approximately $69.94 million in the second quarter, while several other institutional investors also initiated positions.
• Sandisk reported strong quarterly results, with EPS of $39.25 beating estimates and revenue surging 371.6% year over year to $8.96 billion. The company also authorized a $14 billion share-repurchase program.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $1,998.14, though investors face risks from the stock’s elevated valuation, memory-market cyclicality and growing Chinese competition.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 30,760 shares of the data storage provider's stock, valued at approximately $69,940,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Osaic Holdings Inc. purchased a new position in Sandisk during the second quarter valued at $317,000. Merit Financial Group LLC purchased a new stake in shares of Sandisk during the third quarter valued at approximately $408,000. Dimensional Fund Advisors LP bought a new position in Sandisk in the 3rd quarter valued at approximately $100,080,000. First Trust Advisors LP purchased a new stake in Sandisk during the 3rd quarter valued at $9,788,000. Finally, Blair William & Co. IL bought a new stake in Sandisk in the 3rd quarter worth about $591,000.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,740.00 on Monday. The firm has a market cap of $254.77 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.17 and a beta of 5.17. The firm has a 50-day simple moving average of $1,543.33 and a 200-day simple moving average of $1,289.76. Sandisk Corporation has a one year low of $63.74 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion during the quarter. During the same quarter in the prior year, the company earned $0.29 EPS. The firm's quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts predict that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk announced that its board has authorized a stock repurchase program on Wednesday, August 5th that authorizes the company to buyback $14.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Activity at Sandisk

In related news, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $1,525.60, for a total transaction of $915,360.00. Following the completion of the sale, the insider owned 29,884 shares of the company's stock, valued at $45,591,030.40. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,800 shares of company stock worth $2,865,456. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research note on Friday, August 14th. They set an "overweight" rating and a $2,250.00 target price for the company. The Goldman Sachs Group restated a "buy" rating and set a $2,200.00 price objective on shares of Sandisk in a research report on Thursday, August 13th. Zacks Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Mizuho lowered their target price on shares of Sandisk from $1,900.00 to $1,875.00 and set an "outperform" rating on the stock in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada raised their target price on shares of Sandisk from $1,300.00 to $1,600.00 and gave the company a "sector perform" rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Sandisk currently has a consensus rating of "Buy" and an average target price of $1,998.14.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven memory demand is the main catalyst. Nvidia’s reported $12.9 billion acquisition of Hugging Face reinforced expectations that expanding AI data centers will require significantly more NAND storage. SanDisk rose alongside Micron and other AI-related semiconductor stocks. SanDisk Shares Surge Following Nvidia’s Hugging Face Deal
• Positive Sentiment: Analysts see substantial upside. Lynx Research set a $2,450 target for SNDK, while other bullish research points to accelerating NAND pricing, supply-and-demand advantages and strong AI-related growth. Zacks also maintained a Rank #1, or Strong Buy, view. Lynx Research Memory Stock Price Targets
• Positive Sentiment: SanDisk’s latest results provide fundamental support: earnings exceeded estimates, revenue rose 371.6% year over year, and management guided to $44–$46 in fiscal first-quarter 2027 EPS. The company’s $14 billion share-repurchase authorization may further support the stock.
• Neutral Sentiment: The broader semiconductor group is strong, but macro conditions remain mixed. A hot employment report pushed Treasury yields and rate-hike expectations higher, creating volatility for high-growth technology stocks. SanDisk will present at Citi’s and Goldman Sachs’ technology conferences on September 8–9, potentially providing additional guidance. SanDisk Investor Conference Participation
• Negative Sentiment: Investors continue to face risks from the memory industry’s cyclicality, elevated valuation and rising Chinese competition. Progress by China’s CXMT and other domestic producers could pressure SanDisk’s pricing and market share. A company insider also sold $915,360 of shares under a pre-arranged Rule 10b5-1 plan, although the sale was relatively small compared with the remaining holding. China Memory Market Share Concerns

About Sandisk

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

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